Deutsche Bank
Deutsche Bank is a major international bank headquartered in Frankfurt and Germany's largest lender. Deutsche Bank Research publishes company, macroeconomic and thematic analysis. Euromoney named it the world's best for research in 2026.
Activity24M
RatingsPrice targetsKey figures
- Stocks covered
- 84012M
- Actions
- 1,83712M
- Ratings / Price targets
- 869 / 968
- Upgrades / Downgrades
- 100 / 87
- Initiations
- 27
- Buy-rated
- 53%of 651 rated
- Median upside
- +15.2%
- Targets raised / lowered
- 475 / 327
- On record
- Jan 2012 – Sep 2026
Overview
Deutsche Bank Research spans company, macroeconomic and thematic work; its global head of research reports directly to the group chief executive rather than to sales and trading. In 2026 Euromoney named it the world's, Europe's and Germany's best for research. Since 2025 the bank's Research Institute has published long-term thematic work openly, while core research stays client-only.
Deutsche Bank was founded in Berlin in 1870 to finance foreign trade and later moved its head office to Frankfurt. It expanded into investment banking by acquiring London's Morgan Grenfell in 1990 and Bankers Trust, owner of the Alex. Brown brokerage, in 1999, and listed on the New York Stock Exchange in 2001. In July 2019 it announced an exit from equities sales and trading while keeping an equity and macro research capacity.
Milestones
- 1870
Founded in Berlin to finance foreign trade
- 1990
Acquired London merchant bank Morgan Grenfell
- 1999
Acquired Bankers Trust, including Alex. Brown
- 2001
Listed on the New York Stock Exchange
- 2019
Announced exit from equities sales and trading
- 2026
Named Euromoney's world's best for research
Research philosophy
Our Research team is home to a broad church of views but we coalesce around a House View for our key macro forecasts.
In 2021, Deutsche Bank Research launched an occasional series, "What is in the tails?", to explore alternatives to its central forecasts and encourage debate with clients. In 2013, research head David Folkerts-Landau said the department focused on helping clients and the bank make decisions rather than conducting basic academic research.
Rating methodology
Equities are rated Buy, Hold or Sell on a 12-month view of total shareholder return (price change to target plus dividend yield), with target prices based on a 12-month forecast period.
Coverage12M
Sectors
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 Robinhood Markets, Inc.HOOD | Buy | $138 |
 The Estée Lauder Companies Inc.EL | Buy | $117 |
 Lam Research CorporationLRCX | Buy | $320 |
 Micron Technology, Inc.MU | Buy | $1,550 |
 Applied Materials, Inc.AMAT | Buy | $605 |
 ATI Inc.ATI | Buy | $262 |
 BWX Technologies, Inc.BWXT | Buy | $255 |
 NIKE, Inc.NKE | Hold | $43 |
 The Charles Schwab CorporationSCHW | Buy | $128 |
 Sociedad Química y Minera de Chile S.A.SQM | Buy | $94 |
Most active analysts
- Steve Powers38 notesSMPLFRPTCAG
- Scott Deuschle34 notesHWMRTXHEI
- David Begleiter28 notesCEASHALB
- Brian Bedell26 notesHOODBLSHAMG
- Edison Yu23 notesDANAPTVGM
- Krisztina Katai20 notesCOSTRLFIVE
Recent actions
| Date | Stock | Rating action | Rating | Target |
|---|---|---|---|---|
| Sep 22 | ONONTTF | Reiterate | Buy | |
| Sep 22 | ABABBNY | Reiterate | Hold | |
| Sep 22 | DAEndava plcDAVA | Reiterate | Hold | |
| Sep 22 |  Carnival Corporation & plcCCL | Target | $29 →$32 | |
| Sep 22 | DADANOY | Upgrade | Sell →Hold | |
| Sep 22 | DCDakota Gold Corp.DC | Reiterate | Sell | |
| Sep 22 |  Smurfit Westrock PlcSW | Reiterate | Hold | |
| Sep 21 | JMJMPLY | Reiterate | Buy | |
| Sep 21 | HLHLMAF | Reiterate | Hold | |
| Sep 21 | BHBHTLF | Reiterate | Buy | |
| Sep 18 | DTDynatrace, Inc.DT | Downgrade | Hold | |
| Sep 18 | MTVail Resorts, Inc.MTN | Target | $156 →$138 |